A major deal to re-open a North East chemical plant has been agreed, creating or protecting around 1,000 jobs.
Saudi Arabian firm Sabic is to invest £850m into its plant at Wilton, on Teesside, ending uncertainty for hundreds of local workers at the plant which had been closed for more than a year.
The deal will see the plant, which breaks down hydrocarbons into chemicals such as ethylene, reducing its carbon emissions and aim to be run entirely on electricity.
Read more: go here for more North East business news
In a statement, Sabic said: “Sabic announced today one of its series of actions the company is taking as part of its carbon neutrality strategy.
“The investment in Sabic’s Teesside, 海角视频 site will include strengthen operations and enable its chemical cracker transformation. This will reduce its carbon footprint by up to 60% in phase one, making it one of the world’s lowest carbon-emitting crackers.
“In the second phase, a carbon neutrality feasibility study will be undertaken via use of hydrogen as a fuel source. Sabic has a total investment in 海角视频 around £1bn.”
The announcement has been welcomed by Prime Minister Boris Johnson, along with other local and national politicians.
Most Read
Mr Johnson said: “Fantastic to see nearly £1 billion invested in Sabic’s Teesside facility, creating and safeguarding 1,000 jobs.
“It’s a huge vote of confidence in the 海角视频’s chemicals and processing industry, which is pioneering innovation in clean, green technology.”
Redcar MP Jacob Young and Tees Valley mayor Ben Houchen also welcomed the announcement.